US warns Iran it will step up economic pressure; two more ships attacked in Hormuz

Transit through the Strait of Hormuz slowed to a near standstill on Friday following two ship attacks in the waterway, as the United States declared its capability to maintain a naval blockade of Iran indefinitely. The attacks targeted two vessels belonging to the state-owned Abu Dhabi National Oil Company while they were transiting the strait on Thursday evening. The United Arab Emirates government attributed the attacks to Iran, which has not yet issued a comment.

Ship-tracking data indicated a significant drop in traffic, with only nine vessels passing through the strait on Thursday, compared to an average of 12 for August. Early on Friday, no crossings were visible, though some ships might pass undetected with transponders off. This situation contrasts sharply with the more than 130 ships that daily traversed the Strait of Hormuz before the conflict launched by the US and Israel on Iran in February.

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Indefinitely, the United States Navy can maintain a blockade like that because we'll rotate ships in and out, as we have, and we'll continue to.

US Defense Secretary Pete Hegseth stated that the US military possesses the capability to sustain its naval presence in the region to enforce the retaliatory blockade against Iran, which has already inflicted severe economic damage. "Indefinitely, the United States Navy can maintain a blockade like that because we'll rotate ships in and out, as we have, and we'll continue to," Hegseth told reporters.

Treasury Secretary Scott Bessent further elaborated on the US strategy, announcing plans to inflict more financial damage on Iran. "Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country," he said in an interview. The US administration faces domestic pressure to end the war, with high fuel prices impacting President Donald Trump's approval ratings and potentially affecting his party's control of Congress in the upcoming midterm elections.

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Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country.